HDB Financial Services IPO Date, Review, Price and Key Information

HDB Financial Services IPO Details

HDB Financial Services IPO is fully book build issue and total IPO size is ₹12,500 crores. The offering includes a fresh issue worth ₹2,500 crores and an offer for sale of ₹10,000 crores.

The dates for the HDB Financial Services IPO are June 25, 2025 to June 27, 2025. The allotment process is expected to be finalized by June 30, 2025.

The price band for the HDB Financial Services IPO is ₹700 – ₹740 per share. The HDB Financial Services IPO is scheduled to list on BSE, NSE, with a tentative listing date of July 2, 2025.

Registrar for this IPO is Link Intime India and lead managers for HDB Financial Services IPO are JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs Securities, HSBC Securities and Capital Markets, IIFL Securities, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities, Nuvama Wealth Management, UBS Securities India.

If you're exploring investment opportunities, check out other upcoming IPOs in India and SME IPO listings.

IPO Schedule

IPO Open Date	Wednesday, 25 Jun, 2025
IPO Close Date	Friday, 27 Jun, 2025
IPO Allotment Date	Monday, 30 Jun, 2025
Refund Initiation	Tuesday, 01 Jul, 2025
Share credit in Demat	Tuesday, 01 Jul, 2025
Listing Date	Wednesday, 02 Jul, 2025

Key Details

Price Band	₹700 to ₹740 Per Share
Lot Size	20 Shares
Face Value	₹10 Per Equity Share
Total Issue Size	₹12,500.00 Crores
Fresh Issue	₹2,500.00 Crores
OFS Issue	₹10,000.00 Crores
Issue Type	Fresh Issue and Offer for Sale
Listing At	BSE, NSE

Share Reservation

Investor Category	Shares Offered
QIB	50%
Retail	35%
NII/HNI	15%

Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	20	14,800
Retail (Max)	13	260	192,400
S-HNI (Min)	14	280	207,200
S-HNI (Max)	67	1340	991,600

About HDB Financial Services Company

HDB Financial Services, a leading, diversified retail-focused NBFC in India, caters to a growing customer base with a wide range of lending products. As of September 30, 2024, the company served 17.5 million customers through its 1,772 branches across India. Total Gross Loans stood at ₹98,624.21 crore.

The company operates through three key business verticals: Enterprise Lending, Asset Finance, and Consumer Finance. Secured loans represent 71.08% of the Total Gross Loans. For Fiscal 2024, HDB Financial Services reported a Profit After Tax of ₹2,460.84 crore, with Return on Average Assets and Return on Average Equity at 3.03% and 19.55% respectively. HDB Financial Services maintains the highest credit ratings (CRISIL AAA and CARE AAA) for its long-term borrowings and maintains a diversified borrowing mix.

HDB Financial Services Financial Details

Period Ended	30 Sep 2024	30 Sep 2023	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	101960.35	78463.83	92556.51	70050.39	62025.94
Revenue	7890.63	6902.47	14171.12	12402.88	11306.29
Profit After Tax	1172.70	1167.73	2460.84	1959.35	1011.40
Net Worth	14879.33	12527.04	13742.71	11436.97	9539.73
Reserves and Surplus	14085.37	11735.39	12949.63	10645.57	8749.29
Total Borrowing	82676.10	61898.70	74330.67	59630.31	53630.81

₹ In Crore

Key Performance Indicator

Basic EPS (in ₹)	Return on Net Worth (RoNW)	Net Asset Value (NAV)	Debt-Equity Ratio	Return on Equity (ROE)	Return on Capital Employed (ROCE)
31.08	NA	173.3	NA	19.55%	NA

Offer Objectives

This document outlines details concerning the company's Employee Stock Option Scheme (ESOS) 2022 and the objects of the proposed IPO.

ESOS 2022: The company adopted ESOS 2022 to attract and retain talented employees by offering stock options convertible into equity shares. As of the Draft Red Herring Prospectus date, 5,364,520 options were granted, 403,431 vested, and 160,144 exercised.

Key financial data related to these options includes:

Weighted average fair value of option: ₹183.96 (Fiscal 2022), ₹172.31 (Fiscal 2023), ₹179.70 (Fiscal 2024), and ₹181.94 (From April 1, 2024).
Weighted average share price: ₹384.32 (Fiscal 2022), ₹447.52 (Fiscal 2023), ₹460.71 (Fiscal 2024), and ₹465.39 (From April 1, 2024).
Exercise Price: Ranging from ₹213 to ₹533.

Objects of the Offer: The company will not receive any proceeds from the Offer for Sale, and the proceeds received from the Offer for Sale will not form part of the Net Proceeds. The primary purpose of the Fresh Issue is to augment the company’s Tier-I capital base to meet future capital requirements, including onward lending. A portion of the proceeds will cover offer expenses. The gross proceeds are estimated at ₹250 crore.

The net proceeds will be deployed towards augmenting the company’s Tier – I Capital base, 100% of the proceeds will be used to meet the company's future capital requirements including onward lending. This deployment is scheduled for fiscals 2025 and 2026.